Ukrainian strikes disrupt Russian oil exports; India cuts purchases to 2M bpd

INTELLIGENCE SUMMARY

‼️‼️⛽️🇮🇳🇷🇺 Russia’s oil problems are beginning to hit one of its most important export markets, as Indian refiners cut purchases following supply disruptions caused by Ukrainian strikes. According to Bloomberg, India’s imports of Russian oil could fall to around 2 million barrels per day by the end of August, compared with 2.8 million barrels per day in July. Russia’s seaborne oil exports have also declined over the past four weeks to approximately 3.5 million barrels per day, down from mor